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All About Entrepreneurship Flashcards | StudBud
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All About Entrepreneurship
All About Entrepreneurship
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Entrepreneurship practice questions for Quest
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
People who own, operate, and take the risk of a business venture are called an entrepreneur
True
False
2
Green entrepreneurs have an interest in protecting the earth and conserving resources?
False
True
3
Job attributes include things such as:
I enjoy working with my hands
I enjoy working outdoors
I enjoy selling
All of the above
4
Which of the following is NOT an example of an entrepreneur?
Mr. G. started a cleaning service business
Mr. G. started By Request, a successful home bakery business
Mr. G. manages the G-Money, a business owned by my brother
Mr. G. created Yummy Apple Jam and distributes it nationally
5
Which of the following is NOT an advantage of entrepreneurship?
Entrepreneurs can make BANK $$$
Entrepreneurs can be creative
Entrepreneurs take all the risks in starting a business
Entrepreneurs are their own bosses
6
Jackson Hewitt, a tax preparation company, is an example of which type of business?
Wholesaling business
Retailing business
Service business
Manufacturing business
7
Small businesses with fewer than 500 employees make up ___ % of all businesses in the US today?
99.9%
75%
25%
50%
8
Disadvantages of entrepreneurship include all of the following except:
Entrepreneurs work long hours
Entrepreneurs face uncertain and irregular incomes
Entrepreneurship is risky
Entrepreneurs work a normal 40 hour Monday thru Friday week
9
Aptitude is the natural ability to learn or perform in a specific area.
True
False
10
Characteristics of good team members include creativity, cooperation, competency, commitment &:
college
cool skulpting
communication
cookies
11
An evaluation of your strengths and weaknesses is called
a lot of work
not important to potential employers
aptitude
self-assessment
12
Many entrepreneurs center a business on an interest or hobby?
False
True
13
Wholesaling businesses produce the products they sell?
True
False
14
Team members who have the right set of skills needed to get the job done are demonstrating ___
competency
interests
basic business skills
being a novice
15
Today about 1/2 of new businesses survive at least 5 years and 1/3 at least 10 years?
False
True
16
Which of the following is NOT a reason people want to become an entrepreneur?
Want to eliminate risk from their daily lives
Want to set their own schedule
Want to pursue a personal dream
Want to leave the fast paced corporate environment
17
Completing a self-assessment survey can help you determine your abilities
False
True
18
Entrepreneurship benefits a country by:
Increasing productivity
All of the above
Providing new and improved ways of doing things
Filling unmet needs
19
Is the failure rate for restaurants higher than that of other types of businesses?
Yes
No
20
People who are hired to work for someone else are called
economists
entrepreneurs
employers
employees
21
Major factors in a businesses success include all of the following except?
Having limited motivation
Having adequate capital
The owners education level, knowledge and experience
Being large enough to have and hire employees
22
Jeff Bezos, the founder of Amazon has an approximate current net worth (what you own - owe) of:
$75.8 billion
$100 million
$754.6 million
$216.5 billion
23
Risk can be both an advantage and disadvantage to an entrepreneur?
False
True
24
The following are all Retailing Businesses except for
Jewelry store
Plumbing
Furniture store
Sporting Goods store
25
Employees are directly affected by the consequences of the decisions that they make?
True
False
26
Which of these are characteristics of successful entrepreneurs?
All of the above
Risk takers
Creative
Goal-oriented
27
Which of the following is not one of the 4 main types of entrepreneurial businesses?
Service
Retailing
Funny
Manufacturing
28
A travel agency is a Service business?
False
True
29
Since the economic slowdown in 2008, small businesses have provided the majority of new US jobs
False
True
30
One reason for becoming an entrepreneur in the US is to fill unmet needs of consumers
False
True
